When looking for a long distance moving company, it is always good to keep insurance coverage in mind. Moving companies often provide 3-4 options for liability insurance. The options typically differ greatly in price depending on the value of the contents being insured and how much protection you feel is necessary.
When receiving a price quote for moving services, this original quote will often include the price of basic liability coverage. However, you should always double check this in order to avoid any surprises. Any company worth dealing with should have at least a basic liability coverage plan in place on all shipments.
Beyond Basic Liability Coverage
Beyond the basic liability coverage, your shipping service provider should also offer a Full Replacement Value option, which has two sub-options within it. The full replacement option is available to provide full coverage of the entire value of the shipment. The two types of Full Replacement Value coverage include ‘Valued Inventory’ and ‘Lump Sum’. ‘Valued Inventory’ requires that the assured list and declare a replacement value on all goods that they wish to insure (anything unlisted will go uninsured). However, you can save some time by grouping certain items together such as “Fine Dining Set, 12 items”.
The ‘Lump Sum’ option provides a coverage amount that’s equal to the lump sum value of all of your possessions. This allows you to save time by not having to create an itemized list of all of your possessions.
To find out which coverage will work best for you, it’s a good idea to directly contact your moving service provider.